The Two Oil comapnies have been locked in a controversy over the ownership of OML55 located in Rivers State which led to a long standing legal battle.
A representative of the Nigerian National Petroleum Company OGBANNA AHU who inaugurated an asset management team comprising members of the two parties, to operate the OML 55 said the resolution of the issues will benefit the people of the host community.
He said the exploration of when commenced will also help in getting the nation out of recession.
The Managing Director of the one of the oil giants BOMA BROWN said his company will provide adequate representation of the host community in the decision making process in line with the Petroleum Industry Bill.
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